CG17311 - Indexation: from 6/4/88 example: unindexed gain of nil
On 1 May 1988 Mr B buys a house for £100,000 including acquisition costs. On 1 June 1992 he sells it for £100,000
It is agreed that TCGA92/S223 (private residence relief, see CG64200+) excludes 3/4 of any gain or loss.
- | - | - | £ |
---|---|---|---|
- | Disposal Proceeds | - | 100,000 |
less | Costs | - | 100,000 |
- | Unindexed Gain | - | NIL |
less | Indexation | 100,000 x 0.312 | 31,200 |
- | Indexed Loss | - | (31,200) |
- | The allowable amount is 1/4 of 31,200 | - | (£7,800) |